The Koitz Group's Blog: Montgomery County MD Real Estate

Chevy Chase Maryland Homes Summer Market Report

This sales report centers on data from Chevy Chase Maryland in zip code 20815.  I have to Classify location because Chevy Chase extends into Washington DC.  I'll tackle Chevy Chase DC in the near future for anybody who's curious.  But for today, we'll stick inside the district line!  Chevy Chase Maryland homes and real estate are is hard analyze statistically because of the large disparity in housing prices.  (The most accurate assessments of the markets truly come from a study of smaller micro-markets).  While in the Southern part of 20815 (areas close to Bethesda and the upper Northwest Washington DC line) most houses will break into seven figures, as you travel further north in the zip code, you'll begin…

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Could it be that you can pay your Montgomery County Maryland property taxes and get cash back?  Evidently, the answer is yes.

First of all, I’d like to give credit where credit is due.  I was at a settlement last week with another Long and Foster real estate agent and, when the settlement attorney, finished with the discussion about property taxes, she turned to both buyers (her clients) and sellers (my clients) and said, “Do either of you have a Discover Card?  Because, if you do and if you go to Rockville to pay your taxes in person, you can use your Discover Card and get the advantages of their cash back offer.”

Being the cynic in the group, I mentioned that there would probably be a fee imposed on using the card to pay your taxes.  “It’s $10,” she…

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When, as part of the Economic Stimulus Package, it was announced that the FHA would raise their loan limits, members of both the housing and the banking industries rejoiced.  With the tightening of lending regulations (some justified, some an over-correction) this would help “free” up money and stimulate home buying.

Like every other real estate agent across the country, I was faced with the task of (re) learning the rules of FHA mortgages…but it was a relatively easy task because opportunities abounded for refresher courses.  Even with the initial uncertainty of the amount of the rate increase (which was determined by regional economic indicators), lenders went into high gear and provided as much information as possible.  In the Washington, D.C. area we…

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I guess anyone who’s been involved in an occupation for over 20 years has stories…but I do think that being a real estate agent exposes you to the potential for some really great stories.  I’ve decided to occasionally share some of my favorite stories.  Although the names have been changed to protect the innocent, you have my word that all of these stories are true.

I was probably in about my 6th or 7th year of business when, one evening, I got a phone call from a teacher at one of my son’s elementary school.  She explained that she and her husband, both of whom had been married before, had just written their last tuition check.  All of the offspring were now totally on their own and this couple, who had rented their entire married life, now wanted to…

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Here’s what we know. We know that the real estate market (at least real estate in the Washington DC Metropolitan Area) is cyclical. I have a friend who told me years ago that he believed that our market operated in 7 year cycles…the price of housing would increase for 7 years and then it would level off or decrease for another seven years…before it began a 7 year increase. I never challenged him, but I know that the last increase lasted for more than seven years. 

I think we’ve learned that houses aren’t stocks. They may be good investments, but at the core their value provides something that a stock never can…like security and a place to live. As we listen to prognosticators today, I think it’s important to consider how housing prices have been viewed… Read Full Post

In a post last week, I made a prediction about a home in Bethesda that I had shown…the one where there were seven groups of people in a one hour time span. I went out on a limb and said that, based on the activity that I observed, it would be under contract by the end of the week. I was wrong…it’s still available.

So, what does that say (other than the obvious, which is that I’m not a perfect predictor of market activity)? It looks like what’s happening (at least in the Bethesda area real estate market) is that buyers are out again, but they’re not feeling any sense of urgency. They’re taking their time…and perhaps waiting either for prices to drop or for interest rates to drop. In the case of this particular house, priced at just over $1 million, the… Read Full Post

| Bethesda Real Estate Sales Report (20817 Zip Code) |

A series of reports that looks into the Washington DC area real estate market through examining micro-markets. This market report centers on data from the northwest Bethesda area (zip code 20817) in January 2007 and January 2008. This affluent and large enclave of homes in Bethesda includes a diverse variety of more “modest” homes and luxury estates. Some of the more recognized subdivisions in this area include Bannockburn, Burning Tree, and Avenel. Here's a review and breakdown:

Bethesda Maryland Single Family Homes (Zip Code 20817)

    Jan. 2007 Jan. 2008 Number of Homes Sold 25 … Read Full Post

So maybe I just want to prove myself right…but less than a week after Super Bowl (and that was an amazing Super Bowl!!), the real estate market in the Washington DC Metropolitan Area seems to be picking up. Regular readers will already know about my theory about “Super Bowl Sunday to Mother’s Day.” Just a quick recap: I have seen evidence over past years that this time period defines our busiest market.

And, here we are…into the very beginning of that market and I have to tell you what happened to me today. I had an appointment to show a Bethesda property at 11am this morning. Because I wanted to drive by a couple of new listings, I got to the house a little early. As I sat and waited for my clients, three couples (with agents) went thru the… Read Full Post